Pfizer and Arvinas, a New Haven, Connecticut-headquartered biotechnology company focused on developing based on protein degradation, have signed an agreement worth up to $830 million for developing drug candidates using Arvinas’ proprietary PROTAC (PROteolysis TArgeting Chimeras) platform, a technology used to create small-molecule therapeutics aimed at degrading disease-causing cellular proteins.

The multi-year agreement covers the discovery and development of potential PROTAC clinical candidates designed to degrade several key disease-causing proteins in multiple therapeutic areas. Arvinas will drive discovery efforts, and Pfizer will be accountable for clinical development and commercialization of any products that may result from the collaboration. Under the agreement, Arvinas may receive up to $830 million in upfront and potential development and commercialization milestone payments upon achievement of specified preclinical, clinical, and commercial milestones. In addition, Arvinas may be entitled to receive tiered royalties based on global product sales on any products that may result from the collaboration.

Source: Arvinas